Ethereum whale dormant for eight years has awoken
The holder, who joined during the Ethereum initial coin offering , transferred all their 8,000 Ether into a new account, according toThe transaction's value has left the crypto community intrigued, sparking conversations about what this so-called"whale," an individual or organization holding a significant amount of a cryptocurrency, might do next.
Crypto market watchers are speculating about the potential implications of this activity given that it is the second significant Ethereum whale to emerge in less than two weeks. Earlier this month,after over two years of dormancy. The whale, another early participant in Ethereum's initial coin offering , staked 4,032 ETH, equivalent to approximately $7.4 million. This stake marked their first activity in 2.
At press time, the price of Ethereum stands at $1,848, according to CoinGecko data, with a 24-hour trading volume of over $5 billion and a market cap exceeding $222 billion. The Bitcoin competitor has seen a relatively stable 24-hour range of $1,818.77 to $1,859.33.
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